Kodak shares fell 35% CEO said the company will not sell – Kodak, stock-IT industry
News, according to foreign media reports, as investors cast doubt on the viability of Kodak, Kodak’s stock has fallen 35% this year, but the Kodak CEO Antonio Perez (AntonioPerez) in New York in an interview yesterday that the company can survive down, and not seek buyers to take over.
Perez, 63, said: “My task is to manage this listed company, not sell it. The current situation is indeed poor, but in this case, we will redouble our efforts to do more good. sale of the company told shareholders it is not the best choice. ”
Kodak camera is a pioneer in (GeorgeEastman) founded in 1880, since Digital Cameras Become the market mainstream, Kodak discovered that their most profitable film business obsolete lost. Kodak’s market value in 2008 was 4.53 billion U.S. dollars shrink, Kodak has been trying to prove to investors in new technologies to market occupying a seat. Kodak’s sales revenue to keep declining for three consecutive years. It said last week that the company may be a loss in 2009, 400 million U.S. dollars. Morningstar stock analyst RickHanna
in January 29 interview, said: “I always wanted to figure out is whether they can survive by cutting costs? The present situation seems to be this: some of the more competitors, it might want to purchase in the past, and then a spin-off and integration. ”
When asked whether Kodak can not sell the case by virtue of its own strength to survive, the Perez replied: “Absolutely, this is no doubt.”
Perez said Kodak intends to seek at least two this year Cooperation Partners, through patent licensing transactions to generate cash. He said: “We can not go, as before investing.”
Core investment Perez said Kodak’s main focus, including consumer inkjet Printer Including three core investments. He believes that Kodak inkjet Printer Still more than other competitors on the sales, as inkjet printer cartridges low price, customers can save a great amount of Consumables Cost.
Perez said that as at the end of 2008, Kodak printer 110 million total sales, which in recent quarters, the market share of about 4%. CrossResearch ShannonCross analysts expect Kodak’s operating costs each year more than 300 million U.S. dollars.
Investors and analysts think Kodak should reduce the semi-annual report dividends, retained cash used in advertising and so on. Perez yesterday reiterated that the Board has not expressed its intention to adjust the company.
He said: “We discussed many things on the board, including the payment of dividends in the end it is good or bad, etc., but the Board has not made any changes. We do on the next few years developed a number of dividend payment of dividends may plan, but we never considered selling the company. ”
Lowest Consider Kodak’s stock has hovered near the lowest since 35 years, shareholders RustyRobinson said, now is a good time to buy Kodak.
Robinson, president of Robinson Investment Group, said in an interview yesterday: “Kodak’s share price is now only 4.30 U.S. dollars, you might think that other people may offer to buy it.” Robinson Investment Group manages 102 million U.S. dollars of assets, including 1.5 million shares of Kodak stock. Robinson said the company yesterday morning in the holdings of some of Kodak stock.
Kodak trading yesterday in New York Stock Exchange rose 0.08 U.S. dollars, or 1.9%, and finally closed at 4.27 U.S. dollars per share.
Antonio on Feb. 4, said investors, Kodak intends to image sensors, Electronic Photographic print, OLED and online photo-sharing service for a number of areas of KodakGallery partners or agreements on patent licensing deal.
He said that some people KodakGallery interested, but he did not go further. In addition, Kodak also plans to penetrate the market through its photo-sharing social network market.
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